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A hedge fund launched by former OpenAI researcher Leopold Aschenbrenner has placed sizable bearish bets against AI chip stocks.
Leopold Aschenbrenner's fund disclosed $1.56B in Nvidia puts and $2B in SMH bearish bets.
KEY POINTS
- Situational Awareness fund also holds large put positions in Broadcom, Oracle, AMD, TSM, ASML, and Intel.
- May's Bank of America survey shows 73% of managers see semiconductors as the most crowded trade.
- Citi nearly doubled its Micron price target to $840 on expectations for higher DRAM pricing.
- United Airlines bookings to eclipse destinations surged over 50% ahead of August 12 total solar eclipse.
COMPANIES
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